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under federal law to notify the legislative branch that, fact, they are going to come up against the deadline, precisely why it is -- >> uses the phrase default. we are not going -- the u.s. government isn't going pay its debts. we are going to be like greece. that was -- everybody -- both sides, by the way, republicans and democrats, both used the phrase default. you know perfectly well how it works in the government. you can make choices. >> i hate to break the news to you but -- i don't think anyone other than watching cnbc anyone actually cares and nobody believes the federal government will not pay social security or other debts. >> are you kidding me? i think they do. that's what they start with. right? start with the social security checks aren't going to go out. then -- what do people do, call their congressmen? the elderly get frightened. they think they won't have their weekly paychecks. >> this would not be the first time anyone from the executive branch tried to scare senior sit sense what do we do? we are going over the cliff. do you think we are going over cliff? >>
to this crisis. we're talking about the fiscal cliff. >> it hasn't got ensigned into law. there's no success yet there. >> boehner should move it tomorrow. he should just do that. >> jonathan? >> listen, the president campaigned on a three to one spending reduction and we're not see anything spending here. democrats controlled two-thirds of the chips. >> joy ann, why is this all about taxes? >> one reelection and the -- it doesn't do that much spending. >> it's been all about taxes. >> all about raising taxes. >> there's this obsession with raising taxes. >> it was to go after school lunches and elderly care, health care for poor kids and increased spending. >> no, no, no, they want entitlement reform, joy ann. why this obsession with cutting old people's medicare? >> it's not an obsession about cutting benefits to the elderly, joy ann. it's about reforming medicare over time so at some point in the future we don't tell an 80-year-old you know what? you're not going get the medicare cha you thought you would have. this is about not hurting the elderly. >> the republican solution is to hand 80-ye
're still in mourning over, in connecticut. do you think we'll see real change in gun laws? >> yeah, because i think the president is committed to bringing something forward very quickly. senator feinstein is bringing something up, as well. i don't think there's any business person that i've come across that -- over the last week or so that has not talked about what's happened here and talked about guns. and there is no case to be made for some reasonable basis to have assault weapons in the hands of the average citizens. there is no rational case for that. but this is another example of where the laws get outdated with modern society. we talked about social security. let's look at gun control, for example. the right to bear arms. sure, when we were protecting ourselves in the embryonic stages of our nation's founding. but today where does that stop? does it mean we could have mini nuclear weapons at home too? so the right to bear arms and our constitutional right has to be reflected to what the founding fathers had in mind. and they definitely did not have any idea that people would have ra
. >>> pass new gun laws or set up more armed protections at our schools and public places? that seems to be one of the big debates in america this evening. let's bring back our panel, and we welcome nan hayworth. let's start with the nra they want armed guards in the schools. what's your take? >> well, larry, this is -- we are still reeling from a hideous event. so there are going to be a lot of ideas that from every segment of our society that people are going to have. i think your point is very well taken about the value of faith. whatever someone's faith may be, and family-based faith, as well. because if we can as a culture be mindful that there are -- there are people and there are interests and there's a society outside our own heads. i think the video games play into that because people have become young people and these are young men who do these. they're deeply disturbed, but there is a cultural milieu that contributes, i think, to that sense that somehow they feel they can go out and be destructive, by whatever means. and as we know -- >> katie, a cultural milieu, an interes
will create record vak kiss on the laws. >> which stocks specifically are going to suffer in home depot, radio shack, possibly shorts authority, some of the other office supply category killer stores. >> let me go in mr. glass half hull. anybody coming through had. as mentioned referenced so well. you also have you are even outfitters tutting it on ol centr retailers who have not reinvested back in the business are secularly having the shoppers shift away from them. they are going to have a tougher time. >> i think it's too late to save herb greenberg's bet with brian sullivan for this year, but you were on our show just recently, and you've turned positive for j.c. penney. >> i was a lot more positive at 17 than i do 21 and i do think the middle will do better than the upper end or the bottom. the upper end retailers will get hurt because of the tax rates and the lower end hurt because of social security taxes. guys in the middle will do better. the place to be will be the mossle so thenny's will have better numbers in q q4. >> felt like we were talking to stadler on this one. >> does that ma
couples facing a higher tax burden. the bush-era tax law which eliminated the so-called marriage penalty for joint filers is expiring, meaning with couples with next as little as $80,000 would be subject to taxation at the rate of the higher earning spouse. a nationwide survey done byic which chick chicago-based northern trust, yes, they've been more proactive in planning for the cliff versus those with $1 million or less and finally, that same survey had 44% of high net worth individuals saying their top priority for the country is economic growth and reducing unemployment versus 19% for reducing the federal budget deficit. tax reform and to end the washington gridlock is also on the wish list, michelle. >> mine, too. >> thanks, hampton. >>> once again, the big story tonight, no fiscal cliff deal and not even a new offer from the white house. three days to go. president obama asked the senate leaders to try to make a deal. we'll get more on all of it from washington next. so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive,
. >>> and this is interesting if you have been following the herbalife story. they're working with the law firm-by-schiller, in connection with the fight with billackman. shorting the company. last week he revealed he had been shorting the stock. the "wall street journal" saying it's not clear what counsel the corporate litigator could be offering herbalife, you can imaginin it's going to get tough and aggressive. at some point we've got to talk about julian -- julian robertson on twitter. if we'll consider that a headline. if he's on twitter -- >> did you know about this? >> no. >> there's a handle -- >> i've seen other people that it's obviously not them -- >> this could be him, though. and there's a big debate. a raging debate going on line about whether julian robertson is actually tweeting or not. you have a view? >> i -- i'm going shy away from this conversation other than -- >> we need to find out, though. >> other than to say it's a raging debate. >> i e-mailed him. this julian robertson -- >> how do you know you're e-mailing the right one? >> wow. >> because i have e-mailed with him pr
's got no chance whatsoever of becoming law, end quote. that's what i said back on july 25th. the only reason we ever allowed that vote on that proposal, as i said at that time, was that we knew it didn't pass constitutional muster and that democrats were really serious they would proceed to a revenue bill that originated in the house, as the constitution requires, and as i called on them to do again last week. to repeat, the so-called senate bill is nothing more than a glorified sense of the senate resolution so let's put that convenient talking point aside from here on out. last night i told the president we'd be happy to look at whatever he proposes, but the truth is we're coming up against a hard deadline here, and as i said this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. that having been said, we'll see what the president has to propose. members on both sides of the aisle will revi
, but to no smoking laws-- laws that have hurt big tobacco's bottom line. >> my take-home message from that is that these products have been developed for smokers to have a way to get their nicotine fix until they can get to the place where they can have their next cigarette. that is not going to help people stop smoking. [ticking] >> are smokeless products targeted at teenagers? you pulled together a group of high school students to discuss orbs. what did they tell you? >> one, it looks like candy. and who is candy made for? who is attracted to candy? we are, kids. >> when 60 minutes on cnbc returns in a moment. new prilosec otc wildberry is the same frequent heartburn treatment as prilosec otc. now with a fancy coating that gives you a burst of wildberry flavor. now why make a flavored heartburn pill? because this is america. and we don't just make things you want, we make things you didn't even know you wanted. like a spoon fork. spray cheese. and jeans made out of sweatpants. so grab yourself some new prilosec otc wildberry. [ male announcer ] one pill each morning. 24 hours. zero
. ackman. >> they also hired shiller, the law firm. not clear why they would hire a law firm at this point. no reason given. they have hired them, which is another, hmm, wonder what they're up to kind of move. bob pisani is on the floor with what's moving today. >> we're up 24 points in the dow. and a lot of people think a grand bargain is impossible at this point. but president obama coming back from vacation in hawaii. that's an indication that some kind of deal -- however small -- is definitely coming. i want to point out, and i know you've been negative on this mastercard data on retail sales, and everybody thinks it's going to be a mess for the holiday season. i want to point out that the stocks are not acting that way. that this is a disaster for the season. the s&p retail index hit an historic high on december 3rd. historic high. since then, it has only been down about 3%. these stocks are not acting like there's a disaster. i can give you several reasons why they're not down so far. number one, we are going to see eps growth in the fourth quarter from some of them because of the ex
before the u.s. economy goes over the fiscal cliff, law marriages are pointing fingers and playing the blame game. >> mario monti is saying he's available to lead italy, but only for a party willing to push his economic agenda. >> but he has competition in the form of sylvia berlusconi, italy's former prime minister tells cnbc he feels a responsibility to run. >> translator: i feel the need to return to the political arena to prevent the country from being delivered into the hands of a leftist party. >> and the crowds are out, the stores are ringing up those sales. but u.s. shoppers, they may be running lower on holiday spirit and analysts are saying that they're spending less, as well. >>> if you're just tuning in, thank you so much for joining us on the show here. a bit of a pre-christmas special for you. these are how the markets are looking at the u.s. open. still looking very negative. we had a high volume session on friday where the markets pulled back about 1% across the board. the markets are still in positive tear over to. but nonetheless, the negative sentiment around the
blue chip stocks and they wait long enough, those stocks will work their way higher. that's some law of reverse gravitation. it's been a lousy strategy, if it's a strategy at all, if you can even call it that. but in recent years, let's just say it's been really horrific. think about it. for the last five years, the middle of 2007 and 2012, s&p declined by 9%. when you look at the benchmark's performance over the first decade of the new millennium, s&p was down 24%. though you only did lose 9% in those ten years when you factor in reinvested dividends, which is why i'm always telling you to own some high yield dividend stocks. even factoring dividends, you were better off hiding money in a mattress than buying and holding. the strategy didn't work. let me give you some advice that you almost never hear. i want to talk about a forbidden term. some say it's a curse word. marks me as a charlatan. i want to talk about selling. selling. every stock you buy you should consider comes with an expiration date. again, radical. knowing when to sell those stocks is every bit as important as know
care law could cause insurance premiums to doublery 2013. ? >> there's some places where the premiums will go up by 100%. a 49-year-old in texas can buy a $5,000 deductible policy that's well below the 60% threshold so if i'm at a 45% threshold policy, the and it goes up to 60%, you have a 33% increase just to moving the benefits up. >> seems crazy, that the system is broken and could still double by 2014. >> if we're going to warn americans, somebody's got to pay for it. >> how do you think it's going to pay out, who is going to or what? >> i think it won't start right away like everyone hopes it will. there won't be an october 1st, 2013, are a bright new plan available for everybody, and it's not going to be cheaper, but i think it will be a start and it will be fits rand smart. if we want to insure more americans, and in the long run if we control our krosts we can control that over time, bring in back in line. the higher proem dums you talking about, does that measly mean higher percentage for you? >> no necessarily because the people coming in will cost more. >> do you think they
in this situation? >> well, this year i'm transferring the majority of my ranch, as long as we're under the tax laws that we have in the next few days, majority of my ranch will go to my sons, and i'm basically semi-retired, shall we say. >> what -- what is happening, bob, is more and more family-owned ranches, the family is having to sell the farm or the ranch because they can't afford the taxes, and the value of those farms and ranches has gone up over the time because of the tremendous interest in farmland these days, right? >> well, most of it in our area has been bought up by outside money for recreation purposes. we live in a very scenic area. it's not all that conducive sometimes to agriculture because we only get about 14 inches of rain, but we have beautiful trout streams and wildlife, and there's been a lot of influx of people with deep pockets buying ranches in montana, and the average price in our area has gone for over 2,000 an acre which cows can't pay for so trying to keep it in the family -- >> so an unintended consequence of raising the tax and lowering the threshold is exactly that
facing a higher tax burden if we go over the cliff. the bush era tax law eliminated the marriage clause meaning that incomes of couples earning as little as $80,000 would be subject to taxation at the rate of the higher earning spouse. now as far as their wealth preservation strategies, a nationwide survey done by northern trust found high net worth persons, more than 5 million in assets, are much more proactive in anticipating the tax consequences of going over the cliff than those with a million dollars or less in assets. that same survey had 44% of high net worth individuals saying their top priority for the country is economic growth and reducing unemployment versus 19% who are reducing the federal budget deficit. >> all right, hampton. thank you very much. >>> the finance.yahoo.com poll puts you in the shoes of a member of congress. how would you handle the fiscal cliff? go vote finance.yahoo.com. the results are coming up. there you see your options. michelle. >>> tyler, one of cnbc's best known traders making a very bold call. get out of everything, everything, all cash. get the
in south florida, but she remains ruth madoff, lawful wife of the greatest financial criminal in history. why haven't you filed for a divorce from this man? >> i don't know. it doesn't matter to me. he's gonna die in prison. i certainly don't want to find another man these days. >> he'll probably see this interview. are you concerned about-- >> i was thinking about that. no, i'm not concerned. he should hear it. >> believe her or not, the thousands of victims may have little sympathy for andrew and ruth, but it can't be denied that they, too, are victims of bernie madoff. that's mark and andrew? >> mm-hmm. [tearfully] in happier times. >> they lost a son and brother and will forever carry the shame of the madoff name. >> what he did to me, to my brother, and to my family is unforgivable. what he did to thousands of other people, destroyed their lives, i'll never understand it. and i'll never forgive him for it. and i'll never speak to him again. >> in june 2012, bernie madoff's younger brother peter pled guilty to charges of conspiracy and falsifying books and records of an investment ad
for the issues that are bought once the law gets changed? >> nobody knows for sure. that brings up a very important point, which is historically, the treasury department has never imposed taxes on anything retroactively. so this would be a very bad precedent if they decide to apply this to existing bonds that are currently outstanding. what they ought to do is apply this, if they're going to do it, on a foregoing basis, the bonds issued after january 1st, 2013, for example. >> we're showing the picture of the mub, the etf that tracks the municipal bond market. we've seen it decline since the beginning of roughly december. i think a lot of people are concerned about this. but your point is, that perhaps if you buy this year, the treasury would not put taxes on those holdings, correct? which could be a good time to buy muni bonds. >> you're playing a gamble on whether or not the treasury is going to protect you for this year or not. personally, i'm a little bit more worried about the fact that the taxes could apply retroactively. just because of the nature of the way this would work. what's
. under the laws, those withholding rates are supposed to go up because, as you know, all thoughts tax cuts that were passed over a decade ago were supposed to expire. and the irs is basically on the sideline waiting to see what happens on the hill between them and the president to see if, in fact, there's a reason to tell the current employers, hold on, there will be a freeze on those rates. if, in fact, they have to go to the new guidance, consumers will start to feel very early the hit to their paychecks of having gone over the fiscal cliff, even if there's auto deal that retroactively drags us back over the top of the cliff. >> it's an interesting point. greg, thank you so much. such a mess. >>> it was better news at the box office lately. hollywood is on track to post an all-time box office record this year. film lovers have flocked the theaters to see christmas day performances of les miserables and "unchanged." >>> stick around. still to come on the show, the summer olympics and u.s. election made to 2012 a bumper user for advertisers. will that continue in 2013? we'll ask the c
'll see estate taxes go up, investment taxes go up. there is an endless list of expiring provisions of law that will, in fact, expire if nothing is done. and i think even if something is done at this point, what you're looking at is something very scaled back, something very small and congress will have to come back next year and take a look at trying to get to some of those other issues. >> alistair here. that sounds about right to me, assuming that that scenario is how things play out. what sort of impact medium term do you think this is going to have on consumer and corporate confidence in america, given that the fiscal cliff is clearly weighed heavily on both of those in recent months? >> the sad thing, you know, from an observer's standpoint here is that there isn't much corporate or consumer confidence in the american government. and it's proved itself dysfunctional time and again over the last couple of years. what you hear now is not how people believe that there's going to be some last-minute deal, but how they remember the times that the t.a.r.p. bill, the fiscal bailout a few ye
, and $100 million net worth. >> correct. so big payday for law firm and toyota deal. the big firm, of the winner, hagans berman. do you know them? >> no. >> seattle based law firm that serves as the lead council in the class action set to receive more than $300 million. not bad work if you can get it. >> how much? >> $300 million. taking a third. a little less than a third. >> -- magnetic business cards as the ambulance passes by. >> right. >> i would buy some stock in those today, right? for these guys. you wonder why texas is doing a little built better. because they have put in some rules in place. i'm sorry. >> no. >> you come from a lawyer. >> i do. but we -- my dad doesn't have magnetic business cards. we don't do ambulances. >> no, you were on the good side of things, wasn't he? >> most of the time. >> all right. not all the time? all right. yeah, you did have that sign, i forgot, from the smoker's litigation, where did that -- asbestos? where did that come from? >> the steinway? >> dock workers at four u.s. ports in the pacific northwest will remain on the job despite an o
existing laws. they're not enforced. but did you see this gallup, a new record for people that oppose handgun bans. 74%. it's never been that high. 24% -- more people apparently would ban piers morgan from ever appearing on tv again than would ban handguns. that's much higher consensus on that. which i think -- which would be good for everybody, i think. >> look, there are a lot of cross currents here, joe. you're right. i mean i think there's very strong sentiment that something big has to change. >> background checks, you know what? you definitely got to -- you should do that. >> gun show loopholes >> there's some simple things. but actually questioning the second amendment, that's counterproductive. i'm telling you. for people that do that. it's counter productive. anyway -- >> very special thanks to eamon and to jared. happy holidays if we don't see you before the new year. but i think given this conversation we might be talking cliff even on monday. >> thanks. >> coming up, businesses bracing for the fiscal cliff. we'll ask chairman and ceo thomas fanning if the deal is possible
on africa and many believe now is the time. this is an overgeneralization. the rule of law is not widespread enough in the continent. there is a glimmer of hope such as sun nish sha. countries such as egypt still questionable. we have seen mass rioting there and growing concerns whether the new rule of law and new constitution will effectively protect investors. >> just a few years ago, there were maybe 10 frontier emerging funds. now, there's more than 300. they're the hot thing. remember, even if there is growth there, very little liquidity. that's not a real place for mom and pop investors. that's still a white knuckle place even if there is growth. >> i'm looking at global industries 52 week highs, turkey, france, uk. lithuania, japan. can those do well? >> i think so. they're coming off their bottom. europe 20 through wh-- europe 2 what was our 2008. >> you think merkel gets re-elected? >> at this point. she seems to be doing okay. if merkel gets re-elected, she will be a major outlier. the general rule of thumb for almost all politician, you never survive a debt crisis. germany doesn't
him to invoke federal law in order to invoke a cooling off period. i don't know what the likelihood of that is. i don't know what the president might do. do you think he would -- >> wow. that's a lot of red. >> you step out. you like to step out. you like to make statements, right? >> it's the holidays. >> i'm aware of that. >> you're wearing a red tie today. >> a shirt and a tie. that's usually what i go with, some type of shirt, some type of tie. no bells and whistles. this is your thing. whether you have bracelets -- one of those things is measuring your heart right right now. how is it? >> it's measuring my -- >> your calorie intake? >> my pressure goes up when i'm with you. well, no, this is the jaw bone. >> is it a measure of calories? >> calories, walking, sleeping, rem sleep, how much i shept last night. >> and calories. >> calories. >> if you wore it on your left wrist, would there be less calories, do you know? >> i will test that for you. >> test it out. gasoline prices. you know what i want to ask you? do you employ lobbyists at all? >> no. >> not at all? >> no. >> but w
Search Results 0 to 23 of about 24 (some duplicates have been removed)